This book focuses on problem-solving from managerial, consumer, and societal perspectives. It emphasizes both the business managerial aspects of risk management and insurance and the numerous consumer applications of the concept of risk management and insurance transaction. The tenth edition has been reorganized and fully updated to highlight the increased importance of risk management and insurance in business and society.  In particular, the tenth edition refocuses its attention on corporate risk management, reflecting its growing importance in today’s economy.